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a gloomy new report on the state of retirement savings. >> the recent headlines about the economy as we've talked about have been pretty good but the lingering effect of the great recession is that a lot of americans have had to dip into their savings to get by. and of course that could be a problem in the years to come for many americans. they're supposed to be the golden years. but a new report says retirement like this is way out of reach for most americans who just aren't socking away enough. even with markets near record highs, the confidence workers have in their retirement is low. the employee benefit research institute found that 49% of americans aren't sure they'll be able to retire comfortably and they're not doing much about it. >> it's one of the scariest things is that it is not just that people don't have a lot of retirement savings. it's they don't know what they need. they don't know what they don't have. so, you know, what you would like to see is more people really sitting down with an adviser doing some hard math. instead, people seem to be crossing their fingers and
, knoxville, tennessee, have in common? they have bigger economies than cyprus. it has over a million people. gdp of about 24 billion. but this place is in big trouble right now, because of the issue of debt. what they have is a massive debt. they're spending more than they have, so they're getting a bailout from the eu of about $13 billion. we're going to do this all in dollars, not euro, to keep it all clean here. so, of course, with the bailout comes, as we've seen with other nations, you s as you austerit measures. but the savings tax. essentially, a 6.75% tax on $131,000 and below. you get the picture. if you have $131,000 in the bank right now, and this thing gets approved tomorrow, if that happens, they would come in and take about $9,000 out of your account. even more if you have more. now, the plan is if you do this, you get shares of the bank, and then, jake, when everything gets fixed, theoretically, you get your money back and maybe some more. >> tom, you said cypriots. i said cyprus. >> we'll settle that later. >> thank you so much. >>> also leading money news, how bad are thing
of micro economy or cottage industry of accessories that is really exploding. what you're seeing is tons of entrepreneurs, investors really thinking that this industry and everything around it could really be the next big growth industry. you have people that really aren't in this for any benefit other than just the financial which is different from i think what we've seen in the past. so it's really fascinating. >> lee, medical marijuana. that's been legal in 18 states but it seems as though the tipping point is this legalization of marijuana in colorado and washington last year. why was that a game changer? >> that's true. that was a breakthrough of an entirely different order. even though it was just two states, what happened there was they basically, two ballot initiatives basically made it legal for use of any kind, medical or whatever, and it also required that states would regulate and license businesses, commercial businesses to be able to sell it and to really regulate it. so basically taxed and regulated the industry. this is much more different than even what is the case in pl
Search Results 0 to 2 of about 3